If I file my federal return one day after the tax deadline, will I have to pay a tax deadline penalty or interest?
If you owe tax, you usually will. However, you won’t pay a late taxes penalty or interest if you’re:
- Receiving a refund
- Outside the country while serving in the military
- Living in a federally declared disaster area
If you have a balance due, the IRS can assess both of these:
- Late-filing penalty — 5% of the balance due per month up to 25%
- Late-payment penalty — 0.05% (or part of a month), up to 25% of the tax due
The IRS charges interest on unpaid tax from the return’s due date until the date of payment.
Learn more about your options to reduce or remove an IRS estimated tax penalty. Get the facts from the tax experts at H&R Block.
If you’ve received unemployment compensation or a state tax refund, you’ll receive Form 1099-G. Learn more about Form 1099-G and how it affects your taxes.
Donating a qualified vehicle to a charity? Learn how Form 1098-C is used to report the details of your donation and how it affects your deduction.
Need help deciding if you need to file an amended return (IRS Form 1040X)? Get the facts from the tax experts at H&R Block.